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Rathdowney Provides Project Update, Completes $6.9 Million Private Placement to Advance Project Olza
Rathdowney Provides Project Update, Completes $6.9 Million Private Placement to Advance Pr...
About this update from Rathdowney Resources Ltd.
[{"type":"text","content":"\n\n\n\nRathdowney Provides Project Update, Completes $6.9 Million Private Placement to Advance Project Olza\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 1, 2017\n\n\n\nVANCOUVER, March 1, 2017 /CNW/ - Rathdowney Resources Ltd. (\"Rathdowney\" or the \"Company\") (TSXV: RTH) is pleased to provide an update on activities on its flagship Olza zinc-lead-silver project in Poland, and to report that it has completed a private placement to assist with advancing the project.  Rathdowney has issued a total of 36,313,345 units (the \"Units\") of the Company's capital, for aggregate proceeds (including two previously announced tranches) of approximately $6.9 million.  \n\nProceeds of the financing are planned to be directed toward further advancement of Polish permitting activities and to refine engineering work to progress the Company's Olza zinc-lead-silver project toward the Polish feasibility (PZZ) as well as for general corporate working capital purposes.\n\nProject Olza\n\nProject Olza is located in the Upper Silesian Mining District of southwestern Poland, a world-class region of Mississippi Valley-type (\"MVT\") zinc-lead deposits.  According to the USGS, the Upper Silesian District has the most important accumulations of mineral resources of any of the world's MVT districts, with an estimated endowment of some 731 million tonnes1.  The Pomorzany Mine, located 17 km south, with the same host rocks and mineralogy, has produced in excess of 90 million tonnes2 of ore at comparable grades to Olza. \n\nThe Polish State Geological Institute completed a historical estimate in 1990 of some 77 million tonnes grading 6.15% Zn+Pb3 in the immediate Project Olz...